It is an insane, unhealthy development. Nothing to be proud of. It is a cause and reason for the explosive increase of housing prices. The quality of housing in China is extremely poor and the price you pay for shoddy units is disproportionate. This is all a house of cards built on quicksand.

China has far lower rates of hate crime, drug abuse, broken families, sexual violence, gun deaths, and other social pathologies which affects poor people in the USA. So yes the poor in China are better off than the poor in the USA.

seneca Post time: 2017-4-13 13:23
sfphoto is a CHINESE HERO. He survived 4000 homicide attacks on him A DA in the U.S.A. for many ye ...

The Chinese State does a good job in providing PUBLIC goods and services such as high-speed rail, 4G networks, national healthcare, public education, etc. leaving Chinese Society to provide SOCIAL goods and services such as childcare, elderly care, etc. The only thing that the USA does better than China is the Capitalist System providing PRIVATE goods and services to Corporations and Consumers. But those rich Corporations only cater to middle-class Consumers and don't give a sh-t about poor people who are utterly dependent on welfare handouts from the US Government. Did you know that the customers of fast-food retail chains such as McDonald's in the USA are mostly poor people? Even their food is bad for their health.

seneca Post time: 2017-4-13 13:17
China certainly has the world's highest number of indebted individuals, of people enslaved to the ...

So sorry ol'chap, again I need to put you back to the right track...

In Sweden, house buyers usually need to be able to pay at least 15 percent of the cost up front, with mortgage providers offering a loan of up to 85 percent of the value of the property. You can choose how fast you would like to pay off your loan.

Mortgages account for 95 percent of Swedes' total debt.
Up until recently mortgage holders did not have to pay off their loan, but Sweden has now created a rule that they must 'amortize', as the concept of repaying your loan in increments is known, after concerns that Swedes were accumulating debts they could never repay.

Or: apr. 2015
The Swedish financial watchdog recently scrapped plans for new mortgage rules, meaning you can still buy a home in Sweden and never pay off the full loan. Here's The Local's guide to the five main things you need to know before taking your first step on to the property ladder in the Nordic country.